5 Del. Admin. Code § 712-2.0

Current through Reigster Vol. 28, No. 6, December 1, 2024

Section 712-2.0 - Application For Waiver Of The 30% Concentration Limit

2.1 A Delaware bank that is a party to a merger in accordance with §§ 795D or 795F (with a resulting state bank) or § 795G (with a resulting state or national bank) of Title 5, Delaware Code, in which the resulting bank, upon consummation of the transaction, would control 30% or more of the total amount of deposits of insured depository institutions in this State, may apply for a waiver of the 30% concentration limit in accordance with § 795H of Title 5, Delaware Code, as part of the merger application to the Commissioner.

2.2 A Delaware bank that is a party to a merger in accordance with §§ 795C or 795E of Title 5, Delaware Code, in which the resulting bank would be a national bank and, upon consummation of the transaction, would control 30% or more of the total amount of deposits of insured depository institutions in this State, may apply for a waiver of the 30% concentration limit in accordance with § 795H of Title 5, Delaware Code, by submitting to the Commissioner a copy of the complete application as submitted to the FDIC, the FRB or the OCC, as applicable, and a cover letter indicating that the application is made pursuant to § 795H of Title 5, Delaware Code, and providing information about the disposition of existing locations of the merging Delaware bank.